15 Amendments of Dariusz ROSATI related to 2015/0009(COD)
Amendment 74 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point e
Article 5 – paragraph 2 – subparagraph 1 – point e
(e) providensuring financial support for the companies referred to in Article 1(1), incluby providing working capital risk financing to boost competitiveness and economic growth in the EU and to support economic, social and territorial cohesion.
Amendment 84 #
Proposal for a regulation
Recital 1
Recital 1
(1) The economic and financial crisis has led to a lowering of the level of investments within the Union. Investment has fallen by approximately 15% since its peak in 2007. The Union suffers in particular from a lack of investment as a consequence of market uncertainty regarding the economic future and the, the necessary fiscal constraints on Members states, subdued expectations of demand as well as high indebtedness of Member States. This lack of investment slows economic recovery, reduces market confidence and negatively affects job creation, long-term growth prospects and competitiveness.
Amendment 104 #
Proposal for a regulation
Recital 2
Recital 2
(2) Comprehensive action is required to reverse the vicious circle created by a lack of investment. Structural reforms and fiscal responsibility are necessary preconditions for stimulating investment as stated in the Commission's Communication on the Annual Growth Survey 2015 and the EP report on the European Semester for economic policy coordination: Annual Growth Survey 2015. Along with a renewed impetus towards investment financing, these preconditions can contribute to establishing a virtuous circle, where investment projects help support employment and demand and lead to a sustained increase in growth potential.
Amendment 142 #
Proposal for a regulation
Recital 8
Recital 8
(8) The EFSI is part of a comprehensive approach to address uncertainty surrounding public and private investments. The strategy has three pillars: mobilising finance for investment, making investment reach the real economy and improving the investment environment in the Union. The strategy should boost competitiveness and economic recovery and should be complementary to the objective of economic, social and territorial cohesion across the Union.
Amendment 294 #
Proposal for a regulation
Recital 15
Recital 15
(15) The EFSI should target projects with a higher risk-return profile than existing EIB and Union instruments to ensure additionality over existing operations. The EFSI should finance projects across the Union, including in the countries most affected by the financial crisis promoting geographical spread. The EFSI should only be used where financing is not available from other sources on reasonable terms.
Amendment 320 #
Proposal for a regulation
Recital 16 a (new)
Recital 16 a (new)
(16a) The selection method of investment projects should take into consideration different levels of development of national financial markets as well as their stability, which will have a direct impact on the ability to use the EFSI in Member States. This will secure the distribution of financial resources throughout the whole Union.
Amendment 341 #
Proposal for a regulation
Recital 17
Recital 17
(17) Decisions on the use of the EFSI support for infrastructure and large mid- cap projects should be made by an Investment Committee. The Investment Committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects and have thorough knowledge of sectors concerned, their specificities as well as local markets. The Investment Committee should be accountable to a Steering Board of the EFSI, whoich should supervise the fulfilment of the EFSI's objectives. The independence of the Investment Committee is a key factor in ensuring the trust and participation of the private sector in the Investment Plan. To effectively benefit from the experience of the EIF, the EFSI should support funding to the EIF to allow the EIF to undertake individual projects in the areas of small and medium enterprises and small mid-cap companies.
Amendment 395 #
Proposal for a regulation
Recital 21
Recital 21
(21) Provided that all relevant eligibility criteria are fulfilled, Member States may use European Structural Investment Funds to contribute to the financing of eligible projects that are supported by the EU guarantee. The flexibility of this approach should maximise the potential to attract investors to the areas of investment targeted by the EFSI. The EFSI may also be used for co- financing projects eligible under European Structural and Investment Funds.
Amendment 421 #
Proposal for a regulation
Recital 25
Recital 25
(25) The EIB should regularly evaluate activities supported by the EFSI with a view to assessing their relevance, performanceeconomic viability and impact and to identifying aspects that could improve future activities. Such evaluations should contribute to accountability and analysis of sustainability.
Amendment 446 #
Proposal for a regulation
Recital 26
Recital 26
(26) Alongside the financing operations that will be conducted through the EFSI, a European Investment Advisory Hub ('EIAH') should be created. The EIAH should provide strengthened support for project development and preparation across the Union, by building on the expertise of the Commission, the EIB, national promotional banks and the managing authorities of the European Structural and Investment Funds. This should establish a single point of entry for questions related to technical assistance for investments within the Union, access to which should be fostered by creating sub- national centres for investment support, facilitating effective dissemination of information.
Amendment 612 #
Proposal for a regulation
Article 1 a (new)
Article 1 a (new)
Article 1a Definitions For the purposes of this Regulation, the following definitions apply: "national promotional banks or institutions" mean legal entities carrying out financial activities on a professional basis which are conferred a mandate by a Member State, whether central, regional or local level, to carry out public development or promotional activities.
Amendment 866 #
Proposal for a regulation
Article 3 – paragraph 5 – subparagraph 2
Article 3 – paragraph 5 – subparagraph 2
The Investment Committee shall be composed of sixtwelve independent experts and the Managing Director. Independent experts coming from different Member States shall have a high level of relevant market experience in project finance as well as thorough knowledge of sectors concerned, their specificities as well as local markets and be appointed only by the Steering Board for a renewable fixed term of three years.
Amendment 902 #
Proposal for a regulation
Article 4 – paragraph 1
Article 4 – paragraph 1
The Union shall provide a guarantee to the EIB for financing or investment operations carried out within the Union, or operations between a Member State and a country falling within the scope of the European Neighbourhood Policy including the Strategic Partnership, the Enlargement Policy, and the European Economic Area or the European Free Trade Association, or between a Member State and an Overseas Country or Territory, as set out in Annex II of the Treaty on the Functioning of the European Union, covered by this Regulation and the EFSI agreement ('EU guarantee'). The EU guarantee shall be granted as a guarantee on demand in respect of instruments referred to in Article 6.
Amendment 981 #
Proposal for a regulation
Article 5 – paragraph 2 – subparagraph 1 – point c
Article 5 – paragraph 2 – subparagraph 1 – point c
(c) expansion of renewable energy and energy and resource efficiencydevelopment and modernisation of the energy sector, including the development of indigenous energy sources;
Amendment 1070 #
Proposal for a regulation
Article 5 – paragraph 4
Article 5 – paragraph 4
4. Provided that all relevant eligibility criteria are fulfilled, Member States may use European Structural and Investment Funds to contribute to the financing of eligible projects in which the EIB is investing with the support of the EU guarantee. The EFSI may also be used for co- financing projects eligible for European Structural and Investment Funds.